Commodities

Saudi Arabia on Sunday announced cuts of 1 million barrels per day in oil output starting July, while the rest of the OPEC+ producers agreed to extend earlier cuts in.

Brent oil rose 1% to $76.89 a barrel, giving up some of its earlier gains to as high as $78.73, while U.S. crude climbed 1.2% to $72.61 a barrel, after.

Saudi’s energy ministry said the country’s output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years..

Brent crude futures climbed 66 cents, or 0.9%, to $77.61 a barrel by 0247 GMT, while U.S. West Texas Intermediate crude was at $73.42 a barrel, up 75 cents, or.

By Curtis Williams (Reuters) – The Trinidad and Tobago government accepted bid recommendations for six of eight onshore oil and gas exploration blocks, people close to the matter said on.

Investing.com — Oil prices dropped on Monday, paring back earlier gains, as optimism over the debt ceiling agreement was tempered by renewed expectations that the Federal Reserve will carry on with its long-running.

A food ministry official told FE that any hike in imports duties of edible oil, especially palm, soybean and sunflower, may impact the domestic refineries, as the country imports about.

Brent crude futures rose 86 cents, or 1.1%, to $77.70 a barrel by 0007 GMT, while the U.S. West Texas Intermediate crude (WTI) gained 88 cents, or 1.2%, to $73.79.

Brent crude futures slipped 5 cents, or 0.1%, to $78.31 a barrel by 0042 GMT. U.S. West Texas Intermediate crude (WTI) fell 16 cents, or 0.2%, to $74.18. Oil prices fell.

Retail inflation in milk was reported at 8.78% in April 2023. The milk inflation has remained elevated at over 6% since August 2022. Milk prices are unlikely to witness spikes.